T.ITE: iTech Capital (TSE) Message Board

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Gold/Mining/Energy : T.ITE: iTech Capital (TSE)

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To: Riverlightning who wrote (609)	6/22/1999 5:59:00 PM
From: Dav!d	Read Replies (2) of 5053

Technically, the stock looks mixed. It is difficult to see whether JDX has broken through the 2 month downward trend. The upper trendline is currently at $0.83 and the stock closed at $0.82. Even though the stock had an intraday high of $0.88, the chart still shows a downward trend. We will need to CLOSE above $0.83 (preferably >$0.86) to show a reversal. We are currently at the 25-d and 50-d MA, and at the middle bollinger band. MACD is still negative but appears to be turning positive with the red line ready to cross the blue. Furthermore, the RSI has crossed 50. The Stochastics are showing neutral. Momentum is positive. What does this all mean? The upper bollinger band is at $0.90 which is what I would consider a breakout price. So far, the stock is a hold and wait for more news. I would expect the stock to trend as Keith noted earlier for the rest of the month. Don't forget month-end selling. Thus, I would expect all tehnicals to show a better picture in the first week of July. Major Support level is $0.76 and $0.70. Anything below $0.70 means that the stock will be dead for many months. david

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